Leveraged loans
If CLO investors flee, defaults could snowball
High yield borrowers relying on a steady stream of leveraged loan issuance that could quickly run dry
UK bank securitisation exposures on the rise
Originate-to-distribute engine revs up
CLO scare: could rated tranches see losses?
Structures are more solid, but loans are dicier, and recovery rates may be disintegrating
Lifetime achievement award: Craig Broderick
Risk Awards 2019: Goldman’s long-serving CRO helped bank survive the crisis, and then adapt to new world
Big UK banks have £278 billion exposure to ‘junk’ loans
Non-investment grade exposures make up 31% of total corporate exposures
Will private credit go from boom to bust?
It is the acceptable face of shadow banking. But is too much money chasing too few opportunities in private credit?
DoubleLine warns of debt rollover risk
Asset manager plans to be liquidity provider if US credit market is distressed
Family offices find an appetite for credit risk
Family wealth funds are dumping hedge fund positions and taking control of their own investment decisions. But as some move into direct lending – to replace retreating banks – they face new risk management challenges. Peter Madigan reports
Alcentra belives leveraged loans will take off as an asset class
Alcentra says sub-investment grade leveraged loans are becoming an accepted asset class in Europe as the market develops. Institutional investors are the norm in Europe compared with retail in the US.
Law firm Paul Hastings adds to leveraged finance team
Rich Farley joins from rival, Cahill Gordon & Reindel